Tax Investigation Insurance

Protect yourself against the cost of any HMRC enquiry

The 2017 Budget allocated a further £155m to HM Revenue & Customs (HMRC) to tackle tax evasion and avoidance.

This means that all taxpayers are now at greater risk than ever of being investigated by HMRC. Thousands of individuals and businesses are selected for a tax enquiry or inspection every year. If it happens to you, the questions will be detailed and time consuming to answer. Whether or not HMRC finds extra tax to pay, the costs to defend you can be substantial.

The Policy will cover

Professional fees incurred in respect of:

Corporation Tax and Income Tax full or aspect enquiries

PAYE/NIC compliance checks from the outset and disputes with HMRC following such checks

IR35/Employment Status/CIS enquiries and disputes

VAT compliance checks from the outset and disputes with HMRC following such checks

Enquiries under Section 60 or 61 of the VAT Act 1994, provided that at the culmination of such investigation it is proved that the policyholder was not found guilty of dishonesty, fraud or fraudulent intent

Up to £250 of costs relating to an informal request for information by HMRC, by telephone or other means

Inheritance tax/ Probate return enquiries

Stamp Duty and Stamp Duty Land Tax Enquiries

National Minimum Wage / National Living Wage enquiries

Child tax credit enquiries

Student Loan enquiries

Gift Aid enquiries

Companies House confirmation statement enquiries

Enquiries into Scottish taxes

Auto enrolment return enquiries where the Policyholder has been engaged to complete the appropriate reporting statements and declarations

Code of Practice 8 investigations, provided that at the culmination of such investigation it is proved that the policyholder was not found guilty of dishonesty, fraud or fraudulent intent

As a subscriber to your accountant’s Tax Fee Protection Service, you have telephone access to consultants who are available to assist you with practical advice on any employment, health & safety or general legal issues that your business may encounter.